Konstantin Makrelov

Lead Economist: Macroeconomics and Growth,

Konstantin Makrelov is a Lead Economist at the South African Reserve Bank. His work covers variety of topics related to monetary policy, economic growth and forecasting. Prior to joining the bank, Konstantin spent 12 years at the National Treasury, the last 6 years as Chief Director responsible for Economic Modelling and Forecasting. The focus of his work were economic forecasts for fiscal planning and assessment of government policies. While at the National Treasury, Konstantin set up two multiyear collaborative research programmes with the United Nations World Institute for Development Economic Research. These programmes produced policy research in areas such as climate change, energy, taxation, labour economics, fiscal and monetary policy and others. The programmes also provided for the first time administrative tax data to academic researchers.

Konstantin holds undergraduate and postgraduate degrees from Wits University and a PhD from University of London

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